These data suggest that a bottoming in economic activity is taking place, but that a bit more inventory adjustment is needed to insure a re-acceleration in growth.

Data suggest that economic activity has bottomed and that the worst is now being reported for corporate profits, ... As such, stock price gains are expected to continue, supported by improvements in corporate performance and mild-mannered inflation and interest rates.

Data suggest that economic activity has bottomed and that the worst is now being reported for corporate profits. As such, stock price gains are expected to continue, supported by improvements in corporate performance and mild-mannered inflation and interest rates.

The deterioration in economic activity would argue for a more aggressive move, but the Fed has rarely moved by more than (half a point) during Greenspan's tenure,

It's always a bit difficult to read the economic data in the winter, just because activity is thinner, and the vagaries of weather are more pronounced. So it's not unusual to see, although this is an extraordinary amount of volatility.

We still expect economic activity to slow over the next several quarters as consumer spending slows further and housing declines more because of higher interest rates and energy costs. The absence of inflation will be welcomed at the Federal Reserve.